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LSDefine

Simple English definitions for legal terms

fringe benefit

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A quick definition of fringe benefit:

Term: Fringe Benefit

Definition: Fringe benefits are extra things that an employer gives to their employees in addition to their regular pay. These benefits can include things like health insurance, life insurance, discounts on products or services, free parking, access to a gym, and meal plans. Some of these benefits are not taxed as long as certain rules are followed. The government has a list of all the benefits that are not taxed and the conditions that must be met to qualify for the tax exemption.

A more thorough explanation:

A fringe benefit is an extra benefit that an employee receives in addition to their regular wages. These benefits can be tax-exempt if certain conditions are met. The Internal Revenue Code's Section 132 lists all the fringe benefits that are excluded from taxable income and the conditions for the exclusion.

  • Health insurance
  • Life insurance
  • Employee discounts
  • Qualified parking
  • On-premises athletic facilities
  • Certain meal plans

These examples illustrate how fringe benefits can be different from regular wages. For instance, an employee may receive health insurance coverage as a fringe benefit, which is not part of their regular salary. Similarly, an employee may receive discounts on products or services offered by their employer, which is also a fringe benefit.

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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